Saturday, January 02, 2021

#MALAYSIA: Multi Billion Dollar Rail System Linking Singapore Cancelled

[world politics news] 

Malaysian Prime Minister Muhyiddin Yassin

Malaysia and Singapore on Friday said they would terminate a plan for a multi-billion-dollar high-speed rail project after protracted talks failed to break a deadlock over Kuala Lumpur’s demands for changes to a blueprint first approved in 2016. 

As a result of the cancellation, the Malaysian government of Prime Minister Muhyiddin Yassin is liable to pay Singapore a hefty termination fee, reportedly more than US$75 million.

World Politics News reported in September, 2018 that the Malaysian government announced a delay in the project, due to a bad economy in the region.

Pictured: Malaysian Prime Minister Muhyiddin Yassin

[FULL STORY HERE]

World Politics News is dedicated to raising Americans' knowledge of political events, elections, and legislation throughout the world.

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